Ryuu96 said:
This was what I was going to ask, how is the economy, cost of living, etc? I think I read a couple months ago that America is doing better than a lot of European countries but it still isn't great and I don't know how much has improved since but if there's still millions struggling with the cost of living, struggling to afford basic necessities such as food, bragging about the stock market over and over is just going to piss a lot of people off and come across as insensitive/out of touch. |
By most traditional metrics (or at least the metrics Trump liked to brag about) the economy is just as strong/stronger than during the Trump years.
Unemployment Rate
2017-4.4%
2018-3.9%
2019-3.7%
2020-8.1%
2021-5.3%
2022-3.6%
2023-3.6%
Stock Market (after 41 months)
Trump-+29.9%
Biden-+30.6%
GDP Growth
2017-2.5%
2018-3.0%
2019-2.5%
2020- -2.2%
2021-5.8%
2022-1.9%
2023-2.5%
Wage Growth
2017-3.45%
2018-3.62%
2019-3.75%
2020-2.83%
2021-8.89%
2022-5.32%
2023-3.80%
Inflation Rate
2017-2.1%
2018-2.4%
2019-1.8%
2020-1.2%
2021-4.7%
2022-8.0%
2023-4.1%
Fed Interest Rate (beginning of year)
2017-0.5% to 0.75%
2018-1.25% to 1.50%
2019-2.25% to 2.50%
2020-1.50% to 1.75%
2021-1.50% to 1.75%
2022-1.50% to 1.75%
2023-4.25% to 4.50%
2024-5.25% to 5.50%
Employment, wages, GDP and the stock market have all seen better growth under Biden compared to Trump. However, inflation has eaten up most of the wage gains under Biden while wages were outpacing inflation under Trump. Also, interest rates increased significantly in order to tame inflation but that means mortgages, car loans & credit card payments are more expensive.
When the herd loses its way, the shepard must kill the bull that leads them astray.